12,720 Shares in Global Business Travel Group, Inc. (NYSE:GBTG) Bought by Verition Fund Management LLC

Verition Fund Management LLC acquired a new position in shares of Global Business Travel Group, Inc. (NYSE:GBTG) during the third quarter, Holdings Channel.com reports. The institutional investor acquired 12,720 shares of the company’s stock, valued at approximately $98,000.

Other large investors have also recently bought and sold shares of the company. Bank of New York Mellon Corp lifted its position in shares of Global Business Travel Group by 1,116.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,007,861 shares of the company’s stock worth $6,652,000 after buying an additional 925,018 shares during the last quarter. Principal Financial Group Inc. acquired a new position in Global Business Travel Group during the second quarter worth about $108,000. Rhumbline Advisers lifted its holdings in shares of Global Business Travel Group by 419.3% in the second quarter. Rhumbline Advisers now owns 143,883 shares of the company’s stock worth $950,000 after acquiring an additional 116,175 shares during the last quarter. Victory Capital Management Inc. acquired a new stake in shares of Global Business Travel Group in the 2nd quarter valued at approximately $147,000. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Global Business Travel Group by 595.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 114,695 shares of the company’s stock valued at $757,000 after purchasing an additional 98,213 shares in the last quarter. 82.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on GBTG. Citigroup increased their price objective on shares of Global Business Travel Group from $9.00 to $9.50 and gave the company a “buy” rating in a research note on Friday, October 4th. Morgan Stanley upped their price target on shares of Global Business Travel Group from $7.00 to $9.00 and gave the stock an “equal weight” rating in a report on Thursday, December 12th. Finally, UBS Group began coverage on Global Business Travel Group in a research report on Friday, November 22nd. They set a “buy” rating and a $11.00 price objective on the stock.

Global Business Travel Group Trading Up 1.6 %

Shares of NYSE GBTG opened at $9.13 on Wednesday. The stock has a market cap of $4.29 billion, a P/E ratio of -25.35 and a beta of 0.73. The firm has a 50 day moving average price of $8.52 and a two-hundred day moving average price of $7.45. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.56 and a current ratio of 1.56. Global Business Travel Group, Inc. has a 52-week low of $4.49 and a 52-week high of $9.60.

Global Business Travel Group (NYSE:GBTG) last posted its quarterly earnings data on Tuesday, November 5th. The company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.14). The company had revenue of $597.00 million during the quarter, compared to analyst estimates of $611.89 million. Global Business Travel Group had a negative net margin of 7.06% and a negative return on equity of 9.70%. During the same quarter in the previous year, the company earned ($0.02) earnings per share. As a group, equities analysts forecast that Global Business Travel Group, Inc. will post -0.17 EPS for the current year.

Global Business Travel Group declared that its board has initiated a stock repurchase program on Tuesday, November 5th that permits the company to buyback $300.00 million in shares. This buyback authorization permits the company to reacquire up to 8.2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its shares are undervalued.

Global Business Travel Group Profile

Global Business Travel Group, Inc provides business-to-business (B2B) travel platform in the United States and internationally. The company's platform offers a suite of technology-enabled solutions to business travelers and clients; travel content suppliers, such as airlines, hotels, ground transportation, and aggregators; and third-party travel agencies.